Abuja: Experts have called on the Federal Government to expedite the establishment of an Infrastructure Company (Infra-Co) dedicated to critical infrastructure investments. They made the call at the ongoing Nigeria Public-Private Partnership (PPP) Summit organised by the Infrastructure Concession Regulatory Commission (ICRC) in Abuja on Wednesday.
According to News Agency of Nigeria, the experts, in a panel discussion on 'Maximising Nigeria's Economic Potentials in the Transport Sector Using PPPs: Focus on Rail and Road Infrastructure', explored the benefits of PPPs in improving the state of socio-economic infrastructures and addressing the challenges facing the transportation sector. Rowland Ocholi, Managing Director of Bethlehem Rail Infrastructure Limited, said the call for an Infrastructure Company aimed to drive critical infrastructure investments by leveraging PPPs to bridge Nigeria's infrastructure gap.
Ocholi proposed the creation of the Nigerian Railway Infrastructure Company, which would own fixed infrastructure, grant maintenance concessions, build new railway infrastructure, and develop property consistent with the Hong Kong MTR model. He expressed concern that there was too much emphasis on road transportation in PPPs, while rail transportation was being overlooked.
Nasir Alli, Past President of the Permanent International Association of Road Congress, suggested centralising the road sector in a semi-autonomous agency to improve efficiency and resolve conflicting interests. He highlighted the need for a road authority to oversee the sector.
Opuiyo Oforiokuma, Senior Partner at Africa 50 Infrastructure Acceleration Fund, expressed satisfaction with the progress on the HMDI project, noting that contracts were operational and under construction. Oforiokuma was optimistic that the Federal Roads Maintenance Agency (FERMA) could serve as a foundation for creating a structured organisation to manage federal roads with private sector expertise.
Lai Are, Managing Director of Catamaran Nigeria Limited, emphasised the importance of technology in implementing efficient toll payment solutions. He suggested that roads should be viewed as economic development assets rather than just utilities, advocating for bank-supported systems like 'Park and Go.'
Adeniran Ajakaiye, Managing Director of Africa Plus Ltd., addressed investor concerns about political instability and called for proper transitioning of governments to restore confidence. He advised creating a favourable environment for private sector investments and involving subnational governments in the process.
The experts, consisting of international investors and private sector leaders, urged the Nigerian government to signal its openness for business by streamlining regulatory processes, providing incentives, and ensuring a stable economic framework to attract private sector investment. They commended the ICRC for promoting PPPs in Nigeria.
The summit, themed 'Unlocking Nigeria's Potential: The Role of Public-Private Partnerships in Delivering the Renewed Hope Agenda,' continues to highlight the vital role of PPPs in infrastructure development.